By Briar Sinclair
SHOPKEEPERS whose businesses are affected by a proposed sixstorey redevelopment in Pier St, Altona, face an uncertain future when their leases expire in 2010.
Franmark Properties, which owns the building on the corner of Pier St and Railway St South, earlier this year proposed the six storey multiuse development complete with 53 apartments.
But tenants have been offered little information about the development and are now demanding answers.
Apricot Tree Coffee Lounge owner Diana Poole, who bought the business 14 months ago, has gone so far as to form the Altona Action Group.
The group was formed solely for traders the redevelopment will affect.
Ms Poole sent a letter to Franmark last month requesting information about the proposal.
The letter reads: “The lease holders affected by this proposed development urgently require information about these proposals in order to make appropriate business plans and to ensure the viability of their businesses.
“As you can appreciate, any uncertainty regarding the future lease agreements would be detrimental to the value of these businesses.”
The letter requests a copy of the proposed development and an accurate time frame of when work will start and finish.
Ms Poole, who has seen business increase in the time since she bought The Apricot Tree, said business owners did not know if they would be offered leases once the building was finished.
“If we don’t look ahead and do something now there’s no use waiting until 2009,” she said.
Other shop keepers have similar concerns. Vicki ‘Beba’ Stojanovic, who has run Altona Shoe Repair Service for more than 25 years, said she has always been offered a three by three lease until the last time she went to renew her lease.
She was last offered a lease up to 2010.
“I always have a three by three lease but I couldn’t have it this time,” she said. “I don’t want to move out until I die.”
Ms Stojanovic said she did not want to move into a different shop.
“I always thought I would sell the business when I retire and have some cash but I can’t now because I have only got four years left,” she said. “I like it here.”
Ms Stojanovic said there was no way she would open a new business and was worried about an increase in rent if she was given a lease after the works were complete.
“At my age to look for another business and start again, no way. I would like to come back but it will be totally different in rent. It will definitely go up.”
Brad Corbett of Barber By the Bay would like to know what the lease agreements would be in order to make decisions for the future.
“We have invested a lot of time and money into the shop so it is not good to have that uncertainty about it,” he said.
Despite repeated attempts, Star could not contact Franmark Properties for comment.
